Kazakhstan: Almaty holds investment forum to increase its investment attractiveness

ALMATY, Kazakhstan (TCA) — More than 700 representatives of business circles, including international companies, participated in the 2019 Almaty Investment Forum held in Kazakhstan’s largest city, Almaty, on November 27. The main goal of the forum was to increase the investment attractiveness of Almaty, the official website of the city’s administration reported.

Addressing the forum participants, the Mayor of Almaty, Bakytzhan Sagintayev, said the forum was taking place in a historic moment, when the agenda for the development of Almaty for the next 30 years is being formed. The Development Strategy of Almaty until 2050 has been drawn up and submitted to a broad-based consultation procedure among citizens. The main objective is to enter the top 100 best cities in the world, in terms of quality of life and business opportunities.

“This requires a solid economic foundation. The urban economy should grow at a rate of at least 5 percent per year. To ensure this growth, we are beginning a deep structural reform of the urban economy. The reliance is on the sectors of the new economy. And this structural maneuver of ours opens up fundamentally new fields for investment,” said Sagintayev.

In his words, the ultimate goal of the structural maneuver is to develop export production, expand the presence of Almaty manufacturers in the global high-tech economy.

At the forum, the managing partner of McKinsey & Company in Kazakhstan, Jochen Berbner, spoke about Almaty as a new international center for tourism. He said that Kazakhstan has all the prerequisites for the development of tourism, especially in such fast-growing niche segments as ecotourism, sports and business tourism, adding that Almaty belongs to the top tourist destinations in the country due to its picturesque nature, warm climate and developed infrastructure.

“Due to its geographical location, Almaty has great chances to attract tourists from those countries whose population is now actively investing in travel, in particular from China, India, and Russia,” said Berbner.

Sergey Kwan


Sergey Kwan has worked for The Times of Central Asia as a journalist, translator and editor since its foundation in March 1999. Prior to this, from 1996-1997, he worked as a translator at The Kyrgyzstan Chronicle, and from 1997-1999, as a translator at The Central Asian Post.
Kwan studied at the Bishkek Polytechnic Institute from 1990-1994, before completing his training in print journalism in Denmark.

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